levy agreement

Calgary is familiar with new developments – so much so that the construction crane synonymous with the downtown skyline and beyond has affectionately been referred to as the city’s official bird.

Yet, following a closed-door meeting earlier this year where city council agreed to freeze developers’ special requests for more suburban land until a new levy agreement can be negotiated later this year, many are questioning how a new project goes from an idea to reality, and who is ultimately paying for it.

The City and suburban developers are currently in the final year of a five-year levy agreement. In 2010, the city increased its development levy to about $315,000 per hectare, doubling the number from the previous agreement. (more…)